Cardano (CRYPTO: ADA), which is sometimes labeled as an Ethereum (CRYPTO: ETH) killer, is the eighth-largest cryptocurrency by market capitalization.
The coin of a project, founded by mathematician Charles Hoskinson, is not having a great year so far — its value has fallen 41.8% since 2022 began.Â
The erosion in value since ADA touched an all-time high of $3.10 on Sep. 2, has been even more severe; ADA has fallen 74% from those levels.
The Investment: If an investor purchases $100 worth of ADA today at the press-time price of $0.81, here’s how much they would have if ADA regains its all-time high price back.
| Date Of Purchase | Amount Invested | Purchase Price | Coins Obtained | Worth If ADA Hits ATH Again | Percentage Change |
|---|---|---|---|---|---|
| March 14, 2022 | $100 | $0.81 | 123.46 | $382.71 | 282.72% |
What’s Going On With Cardano? On Friday, Tim Harrison, the marketing and communications director at Input Output — a company associated with Cardano, said in a Linkedin post that over 500 projects are building on Cardano.Â
They range from non fungible token or NFT collectors to decentralized finance or DeFI lenders. The executive gave a breakdown of the projects.
Projects Building On Cardano — Courtesy Tim Harrison’s Linkedin Post
NFT, Gaming, DeFi and marketing dominate the development activity on the proof-of-stake blockchain.
The number of ADA hodlers who have held the coin for more than a year grew 32.1% to reach an all-time high of 408,000 in February from 309,000 in January, according to a report from CryptoCompare.
Cardano Hodlers Over Time — Courtesy CryptoCompare
The total number of addresses holding ADA rose 5.9% to an all-time high of 4.79 million in February. Monthly transactions fell 28% to 2.73 million in the month as the excitement surrounding the SundaeSwap decentralized exchange wanes, according to CryptoCompare.
